WASHINGTON (MNI) – The following is the text of the weekly retail
sales report released by Johnson Redbook Wednesday, for the
month-to-date through the week-ended January 7:
The Johnson Redbook Retail Sales Index was up 3.3% in the first
week of January. Month-to-date, January was up 3.3% compared to January
of last year (relative to a target of a 2.9% gain). Month-over-month
showed a 1.2% drop compared to December (relative to a target of a 1.6%
drop). January is a four- week month on the retail calendar, ending on
January 28th.
Sales momentum carried into early January as gift cards continued
to drive sales for the week. Department stores noted that consumers were
motivated by price. Some discounters reported that consumption had
reverted to more normal patterns, with a focus on basic commodities and
food. January clearance sales got under way as discounted winter goods
thinned out to make room for full priced spring merchandise. Clearance
will be continue to the key theme in January, with most retailers
planning to flow in new spring merchandise from about the middle of the
month. Meanwhile, stores are also stocking up for Valentine’s Day
merchandise.
Note: In observance of the Martin Luther King, Jr. holiday, we will
release our scheduled January 17th report on Wednesday, January 18th at
the usual time.
** Market News International Washington Bureau (202) 371-2121 **
[TOPICS: M$U$$$,MAUDS$]
